{"id":653743,"date":"2024-10-22T00:00:00","date_gmt":"2024-10-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/raya-foods-eyes-usd-20-mn-factory-to-boost-exports-2\/"},"modified":"2024-10-22T00:00:00","modified_gmt":"2024-10-22T00:00:00","slug":"raya-foods-eyes-usd-20-mn-factory-to-boost-exports-2","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/22\/raya-foods-eyes-usd-20-mn-factory-to-boost-exports-2\/","title":{"rendered":"Raya Foods eyes USD 20 mn factory to boost exports"},"content":{"rendered":"

Half of Helios\u2019 USD 40 mn acquisition bid for Raya Foods will go towards building <\/strong>a new factory:<\/strong> Raya Food\u2019s parent company Raya Holding will direct USD 20 mn of Helios Investment Partners\u2019<\/a> USD 40 mn bid for 49% of the subsidiary<\/a> towards building a second factory partly dedicated to freeze-dried fruits and vegetables, Raya Holding CEO Ahmed Khalil told Al Arabiya (watch, runtime: 4:07<\/a>)<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

All part of a bigger plan to increase exports \u2014 and in turn FX revenues: <\/strong>The plan is to turn the company from the country\u2019s second-largest frozen produce exporter \u2014 with an annual production capacity of 50k tons \u2014 to the country\u2019s largest, the company said in a statement (pdf)<\/a> released earlier this week. The new factory will most likely be set up next to its existing factory in Sadat City, according to Khalil \u2014 and its use of freeze-drying produce will play an important role in helping the company boost exports.<\/p>\n

We also got a breakdown of Helios\u2019 offer for the company: <\/strong>Of the USD 40 mn on the table from Helios, USD 14 mn will go towards a capital increase, USD 9 mn for a mezzanine loan that can be converted into ownership, and an undisclosed amount for a secondary purchase, according to comments from Khalil and a disclosure (pdf)<\/a> from the company.<\/p>\n

Raya Holding is eyeing expansions in Saudi Arabia, Nigeria, and Poland: <\/strong>The group has big plans for its Raya IT arm in the kingdom, along with its call center subsidiary Raya CX that can take advantage of the government\u2019s Saudization program, Khalil said, adding that the company\u2019s non-banking financial services outfit Aman is also well-positioned to grow in the kingdom. Expansions in Nigeria and Poland are also on the agenda.<\/p>\n

ANOTHER LOCAL FOOD MANUFACTURING PLAYER IS EYEING EXPANSION- <\/p>\n

Expansion and export are also on Domty\u2019s agenda: <\/strong>EGX-listed dairy company Domty has plans to invest EGP 200 mn next year, with a focus on the baked goods sector and expanding exports, CEO and Vice Chairman Mohamed El Damaty told Al Mal<\/a>. The investments will follow EGP 150 mn already invested so far in 2024, El Damaty added. Domty is in negotiations over a 25k sqm land plot adjacent to its factories in the Sixth of October to accommodate its planned expansion. <\/p>\n

It\u2019s been a big month for Domty: <\/strong>Danish Arla Foods was given the go-ahead<\/a> earlier this week by Domty\u2019s board to conduct due diligence for its bid to acquire up to 100% of the local cheesemaker<\/a> in a transaction that valued the company at some USD 183 mn. A full takeover seems unlikely, however, with Arla expecting the founding El Damaty family to keep a stake in the company, with El Damaty to continue to lead the company as CEO.<\/p>\n","protected":false},"excerpt":{"rendered":"

The new factory will help the company boost exports<\/p>\n","protected":false},"author":1,"featured_media":653744,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7272],"tags":[1598,72,125,614],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-653743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-domty","tag-enterpriseam","tag-investment-watch","tag-raya-holding","wpautop","entry"],"acf":{"mongo_id":"aae6db9d-ba00-47ce-a6ca-873528b02da4","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/10\/1839.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Raya 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Helios\u2019 USD 40 mn acquisition bid for Raya Foods will go towards building a new factory: Raya Food\u2019s parent company Raya Holding will direct USD 20 mn of Helios Investment Partners\u2019 USD 40 mn bid\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/1778.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":653822,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/23\/helios-is-eying-three-more-big-ticket-egyptian-acquisitions\/","url_meta":{"origin":653743,"position":1},"title":"Helios is eying three more big-ticket Egyptian acquisitions","author":"enterpriseam admin","date":"23 October 2024","format":false,"excerpt":"Helios could invest between USD 40-150 mn per company","rel":"","context":"In "Investment 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